ABPM Patient Monitors Market Scope
ABPM patient monitors refer to non-invasive instruments designed to monitor blood pressure at regular intervals even if the patient is asleep. ABPM patient monitor market has high growth prospects owing to rise in government initiative for better healthcare facilities. For instance, The Chinese Food and Drug Administration (CFDA) approved ambulatory blood pressure monitor (ABPM) called Oscar 2 with sphygmocor inside technology which is used to monitor central blood pressure. Further, the rise in the number of patients with hypertension and rise in demand for wearable ABPM patient monitors propelling market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | American Diagnostic Corporation (United States), Lumiscope Company, Inc. (United States), Mindray International Ltd. (China), GE Company (United States), Philips Healthcare Informatics Inc., Welch Allyn, Inc. (United States), Medtronic PLC (Ireland), Schiller AG (Switzerland), SunTech Medical, Inc. (United States), Vaso Corporation (United States) and BPL Group (India) |
CAGR | 6.5% |
ABPM Patient Monitors market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global ABPM Patient Monitors market throughout the predicted period.
American Diagnostic Corporation (United States), Lumiscope Company, Inc. (United States), Mindray International Ltd. (China), GE Company (United States), Philips Healthcare Informatics Inc., Welch Allyn, Inc. (United States), Medtronic PLC (Ireland), Schiller AG (Switzerland), SunTech Medical, Inc. (United States), Vaso Corporation (United States) and BPL Group (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Mortara Instrument, Inc. (United States), Daray Medical (United Kingdom) and Microlife Corporation (Taiwan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global ABPM Patient Monitors market by Type and Region with country level break-up.
On the basis of geography, the market of ABPM Patient Monitors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In September 2021, Suntech Medical, a Halma company completely acquired Meditech. a manufacturer of ambulatory blood pressure monitors (ABPM) and ECG Holter devices based in Budapest, Hungary. Through this acquisition, Meditech becomes a business unit of Suntech.
June 2018, According to the US Patent & Trademark Office, Apple files a patent application for a blood pressure monitoring cuff equipped with a sensors to monitor blood pressure.
“According to the U.S. Centers for Medicare & Medicaid Services, ABPM must be performed for at least 24 hours to meet coverage criteria. ABPM is only covered for those patients with suspected white coat hypertension. Suspected white coat hypertension is defined as Office blood pressure >140/90 mm Hg on at least three separate clinic/office visits with two separate measurements made at each visit. At least two documented blood pressure measurements taken outside the office which are <140/90 mm Hg and No evidence of end-organ damage. The information obtained by ABPM is necessary in order to determine the appropriate management of the patient. ABPM is not covered for any other uses. In the rare circumstance that ABPM needs to be performed more than once in a patient, the qualifying criteria described above must be met for each subsequent ABPM test.”
Influencing Trend:
Growing Adoption of Wearable ABPM Devices and Increasing Demand of ABPM Patient Monitors for Non-Hospital Settings
Market Growth Drivers:
Rise in Prevalence of Hypertension and Increase in Geriatric Population
Challenges:
Lack of Awareness in the Emerging Countries
Restraints:
Stringent Government Regulations Regarding Medical Devices and Issues Related With Accuracy of the ABPM Devices
Opportunities:
Rising Demand for Non-Invasive Methods for Measuring Blood Pressure and Growing Healthcare Infrastructure in the Developing Economies
Key Target Audience
Manufacturers of ABPM Patient Monitors, Healthcare Institutes, Retailers, Distributors, and Wholesalers of ABPM Patient Monitors, Technology Support Providers, Governmental Bodies and Others